DALLAS FORT WORTH | Urban + Suburban P & C

[skys the limit]

Dallas: Most Business Friendly City in America

Dallas Region Growing Fast with Almost Limitless Capacity for More Companies


Downtown Dallas, 05-24-15
by skys the limit2, on Flickr


by Russ Brit, Marketwatch, 05-22-15, 2:20pm ET

DALLAS (MarketWatch) — People in the Dallas–Fort Worth area are quick to note it takes less than five minutes for Texas’s biggest metropolis to add a new resident. But that’s not the scary part.

What’s really troubling, at least for other U.S. cities competing for businesses and commerce against what locals here call “DFW,” is how area residents smile when they say it. That same frantic growth rate could be maintained for decades before the nation’s fourth most populous metropolitan area would begin to feel cramped.

“There’s more activity today than I’ve seen in 30 years in this business,” said a beaming Toby Grove, president of KDC, a local real-estate developer that is currently building several corporate offices in the region.
....

Drive the region’s elaborate web of new and relatively uncrowded highways — seemingly ready to accommodate an onslaught of humanity ....
....

Locals are upbeat when they say the area’s 7 million residents could double over the next 20 years.
....

Dallas’s transportation infrastructure already boasts 37 interstate highways and toll roads to handle a potential crush, plus a light-rail system that snakes throughout the region. It seems the city fathers are preparing for Los Angeles–style sprawl but are determined to avoid L.A.’s mistakes.
....

We discovered Dallas’s present-day numbers may well pale in comparison to its future stats.

Little, it seems, is standing in its way.
....

Full article: http://www.marketwatch.com/story/most-business-friendly-city-in-us-is-dallas-2015-05-12

[skys the limit]

Dallas-Ft Worth Population Gain is Eye-Popping, Census Figures Show



by Michael E. Young, Dallas Morning News, 05-20-15

....
The latest estimates from the U.S. Census Bureau indicate that the staggering growth of small and medium-size cities across the Dallas region shows no sign of slowing.

And five Texas cities are among the U.S. top 10 in population gain between July 1, 2013, and July 1, 2014 — Houston, Austin, San Antonio, Dallas and Fort Worth, with each adding from 18,000 to almost 36,000 people in that 12-month period.
....

Full article: http://www.dallasnews.com/news/metro/201...h-is-eye-popping-census-figures-show.ece

[skys the limit]

Dallas Leads Texas in Job Growth in April 2015


McKinney & Olive Tower under construction, Downtown Dallas, 05-22-15
Image courtesy of CTroyMathis from Dallas Metropolis


April 2015 Job Growth in Texas' Largest Cities:

Dallas-Plano-Irving Metro: +18,800
Ft. Worth-Arlington Metro: +11,400
Dallas-Ft Worth MSA: +30,200
Austin-Round Rock MSA: +9,500
San Antonio-New Braunfels MSA: +4,100
Houston-The Woodlands-Sugarland MSA: -400


Dallas Metro employment grew by 18,800 in April 2015 with a year-over-year increase of 93,600 which is 4.1% growth.

Ft. Worth Metro employment grew by 11,400 in April 2015 with a year-over-year increase of 32,200 which is 3.3% growth.

Add the two together and Dallas-Ft Worth MSA employment grew by 30,200 in April 2015 with a year-over-year increase of 125,800 which is 3.9% growth.

Compare those numbers to Houston-Woodlands-Sugarland MSA which lost employment of 400 in April 2015 with a year-over-year increase of 69,100 which is 2.4% growth.

It may still be too early to fully tell but the latest employment numbers released today suggest that the oil and gas downturn is hitting Houston while Dallas area employment is still growing rapidly.

The numbers suggest that Dallas' diversification (and relatively low reliance on oil and gas) is keeping its employment and population growth surging while oil and gas dependent Houston seems to now be lagging.

Couple this with the recent headline of how population growth in Metro Dallas is eye-popping and the good news, at least right now, is very good indeed for Dallas.

Strong job growth brings more people and seemingly more people bring yet more companies because of the large, diverse and rapidly growing workforce in the area. The two are feeding off of each other.

Construction cranes are literally everywhere one looks in central Dallas and it has become impossible to keep up with their numbers not to mention the number of new highrise projects already started, projects that are near ground breaking, and announced projects for relatively near-term ground breakings. New home construction is eye-popping in central Dallas along with the continuing surge of luxury multi-family .... whole neighborhoods are literally changing overnight with the enormous gentrification and significant new density occurring in central Dallas.

Dallas-Plano-Irving Metro: http://www.tracer2.com/admin/uploadedpublications/1717_dallasmsa.pdf
Ft. Worth-Arlington Metro: http://www.tracer2.com/admin/uploadedpublications/1719_fortworthmsa.pdf
Austin-Round Rock MSA: http://www.tracer2.com/admin/uploadedpublications/1712_austinmsa.pdf
San Antonio-New Braunfels MSA: http://www.tracer2.com/admin/uploadedpublications/1729_sanantoniomsa.pdf
Houston-The Woodlands-Sugarland MSA: http://www.tracer2.com/admin/uploade...houstonmsa.pdf

[dollaztx]

Dallas home prices are climbing at a furious pace

While the jury is still arguing over which city has the craziest housing bubble: San Francisco, New York City, Vancouver, Toronto, Melbourne, etc., David in Texas sent me an email to paint a similarly crazed scenario, albeit with smaller numbers, for an unexpected bubble candidate, Dallas.

The national indices don’t always reflect what is happening on the ground. It helps to get some granular details. So here is one of them for Dallas, where the oil bust has had no impact on the blooming housing bubble. Not yet, at least, as far as we can tell.

Her house is a 2/1, ~ 1300 sq. ft., built in the late 1940s and updated sporadically since then. I realize the same house in the Bay Area is probably $1m plus, but the acceleration of prices in Dallas is mind-boggling to me. According to Zillow, the house was worth $386K in January, and $427K now. It’s up 88% from January 2012,

[dollaztx]

Gaedeke Group ready to break ground on West Plano office tower

Developers are ready to break ground on the next addition to the huge Legacy West project in West Plano.

Construction will start in about 60 days on a 14-story office tower to be built by Gaedeke Group.

The 327,856-square-foot One Legacy West office project will be constructed at the southeast corner of State Highway 121 and Legacy Drive, right across the street from where Toyota’s new headquarters is going up.

[R1070]

The SRT/DNT area is exploding. I can't believe how much stuff is being built in that area.

[futuresooner]

The Marketplace article is a damn lie unless TXDOTA fixes the current roadways that are terrible and invests more in mass transit.

[Sic'EmBears]

Liberty Mutual's 2 towers a 'statement' piece for $2B Legacy West project
Candace Carlisle
May 26, 2015

"This will be an extremely important part of Legacy West," Karahan, president and CEO of The Karahan Cos., told the Dallas Business Journal."This adds another 5,000 people to the community in buildings with beautiful architecture.

"The two towers will make a statement, and will be among the tallest buildings at that corner," said Karahan, who is the owner of the 20-story towers through a limited liability company.

The 9.3-acre project plans include two office towers totaling more than 1 million square feet of office space, 15,108 square feet of retail space on the ground floor of one of the office towers (the one facing Windrose Avenue) and a seven-story parking garage with 4,600 parking spaces for office tenants and retail visitors.

Full Article

[maconahey]

A few webcam screenshots (click to enlarge)

Margaret McDermott (I-30) Bridge



1920 McKinney


McKinney & Olive


One Uptown



The Jordan (Taken by John McKee)

[maconahey]

1900 Cedar Springs



Camden Victory Park



New parking garage in Victory Park


Moving dirt at the new parking garage site in Victory Park


New restaurant



SkyHouse II site in Victory Park



Alexan Skyline on Goat Hill



Frost Bank Tower

[Sic'EmBears]

A new 316,000 sf. residential complex is proposed at Howell and Hall.

Plans call for a 24-story tower with 258 units, along with eight three-story townhomes.

http://www3.dallascityhall.com/development_services/Cases/Z/Z145-248.pdf

[maconahey]

McKinney & Olive



500 South Ervay restoration

[Sic'EmBears]

The DMA Will Open Its North Entrance to Klyde Warren Park
Peter Simek
May 26, 2015

The Dallas Museum of Art announced today the receipt of a $3 million grant from the Eagle Family to fund the renovation of the museum’s north entrance, which faces Klyde Warren Park.

Paired with an additional $1.3 million from the Hamon Charitable Foundation, the plans will transform the area outside of the museum’s Atrium Cafe into a plaza with outdoor seating for the restaurant. In addition, the driveways allowing access to the museum’s underground parking garage will be reconfigured, making room for wider sidewalks and new landscaping that are intended to create improved pedestrian access and flow between the park and the front of the DMA. Henry Moore’s Two Piece Reclining Figure, No. 3 , which has been sitting in small traffic roundabout for years, will be mercifully relocated to the sculpture garden, though Miguel Covarrubias’ mosaic, Genesis, The Gift of Life, will remain in place. Construction begins in August.

Full Article

[dch526]

Stream Realty plans Legacy business park office tower in Plano

The Dallas-based commercial real estate firm has started marketing a 12-story office building on the Dallas North Tollway at Tennyson Parkway.

Called Platinum Tower, the 271,000 square foot office project will be the second phase of Stream’s Platinum Park development.

The planned high-rise is east of where Stream is building a 5-story office project.

“The interest in that building is great and we have a site next door where we can build an even larger building,” said Stream’s regional managing partner Chris Jackson.

[toxteth o'grady]

Really - this competition between Dallas-Fort Worth, Austin and Houston to see who can have the biggest flood has got to end...

[Sic'EmBears]

John Kirtland’s Saint Elm Hotel in downtown Dallas takes one step closer to becoming reality
Robert Wilonsky
June 1, 2015

Said Zavitkovsky, the original plan just “was not viable.” The parking garage took up too much space. Now, there won’t be any parking at all, just 150 hotel rooms and another 150 residential units, along with about 6,000 square feet of retail space, a fitness center, a fancy hotel lobby and a rooftop pool. (At one point, you may recall, Kirtland was going to sell the 17-story, 62-year-old Corrigan Tower to developer Shawn Todd, who planned on razing the structure as part of his now-shelved proposal for the whatever-happened-to Pacific Plaza.)

If it goes through the plan is to start construction on the Saint Elm this month and wrap it up by December 2017. Construction on the apartments would begin around December 2020 – or “within three years of Saint Elm Hotel opening,” whatever comes first. It’s scheduled to be finished in June 2022.

Full Article

[Sic'EmBears]

The Adolphus Hotel to undergo multimillion dollar renovation
Korri Kezar
Kye R. Lee (Photo)
June 8, 2015

A multimillion dollar renovation, complete with new luxurious amenities and facelifts to existing fixtures, has started on The Adolphus Hotel.
The centenarian Dallas landmark, constructed in 2012, has accommodated celebrities including Queen Elizabeth II, Oscar de la Renta, Babe Ruth and several U.S. presidents during its history. The new construction will preserve the hotel’s baroque look that has attracted dignitaries from around the world while bringing its offerings to the 21st century.

“Every detail, large or small, will be designed to enhance the guest experience in an authentic, thoughtful way,” said Michael George, CEO of Crescent Hotels & Resorts, which operates The Adolphus. “The new look and feel will incorporate elements of its illustrious past while exceeding the expectations and desires of today’s most discerning travelers.”

Full Article

[Sic'EmBears]

Exclusive: TIG to develop $31M office building in Allen
Candice Carlisle
June 8, 2015

Plano-based development firm TIG Real Estate Services Inc. plans to build a new $31 million office building along the Sam Rayburn Tollway, which is the start of a large business park.

The six-story, 154,000-square-foot building, called Ridgeview Business Center, will sit on eight acres TIG has optioned from the Allen Economic Development Corp. between Stacy Road and North Watters Road.

"There's currently about 1,000 acres of corn on the south side of the Sam Rayburn Tollway and North Central Expressway, which is some of the best developable property in the city," Brad McJunkin, TIG's director of acquisitions and development told the Dallas Business Journal in an exclusive interview.

Full Article

[Sic'EmBears]

Billingsley unveils CoreLogic building plans for Cypress Waters
Steve Brown
June 4, 2015

The 327,183 square-foot, 4-story office project will house the North Texas operations of information firm CoreLogic Inc.

The project is planned at the northwest corner of Hackberry Road and Ranch Trail, just north of LBJ Freeway.

Billingsley said the building can be expanded to more than 400,000 square feet of space.

Full Article

[Sic'EmBears]

Oak Lawn high-rise gets $10 million redo
Steve Brown
May 27, 2015

“The whole theme of the redo is health and wellness and the ability to access the park and the Katy Trail across the street,” said Champion’s partner Steve Modory.

Upgrades to the building will include a new fitness center, food service area and a new drive up and entry on Maple Avenue.

“Right now the building doesn’t have a front door,” Modory said. “We are redoing the whole outdoor plaza area.”

Gensler is the architect for the redesign.

Full Article